World News
Mumbai Bunker Sales Drop 20-30%
Bunker sales in Mumbai, India have dropped about 20 percent, from a usual level of 20,000 metric tonnes (mt) per month to between 13,000 and 16,000 mt per month, Platts reports.
Suppliers told Platts that the drop may be due to growing competition from Fujairah, United Arab Emirates where falling prices have pushed ships to refuel while moving oil between there and Mumbai.
One source said Mumbai's prices had previously been about $10 per mt more than Fujairah's, but the lower Fujairah prices have widened the spread to about $25 per mt.
The competition is coming from low-priced sellers outside the port limits of Fujairah and Khor Fakkan, according to sellers.
In November, sources in Fujuairah reported that low-priced Iranian fuel oil was keeping prices there down, although Royal Vopack N.V., a partial owner of the Vopak Horizon Fujairah terminal, denied that any Iranian oil was moving through the terminal.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Mumbai |
- login to view prices or subscribe from just $59 - |
|||
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
Popular Now More
-
Apr 30The new hire was previously director of marine fuel marketing at UET Marine in Houston. -
Apr 29The ships are accused of delivering cargo to ports under the control of Yemen's Houthi movement. -
Apr 28Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker.